Lot 2562
1879, $10 Refunding Certificate. PCGS Choice About New 55. Fr-214. . KL-395. A splendid looking example of this scarce type note, with beautiful, bold colors and bright paper. Although it appears a single, unobtrusive fold has been neatly and lightly pressed, the overall appearance remains that of a Choice Uncirculated note. Refunding Certificates were issued only briefly, and were really circulating interest bearing instruments similar to savings bonds. The interest on these notes was stopped by Congress in 1907, fixing the redemption value at $21.30, but they are worth far more to collectors today.
Estimated Value $5,500 - 7,500.
The Samuel J. Berngard Collection.
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